Kotak Mahindra Life Insurance Company Limited (Kotak Life) is a 100% owned subsidiary of Kotak Mahindra Bank Limited (Kotak). Kotak Life provides world-class insurance products with high customer empathy. Its product suite leverages the combined prowess of protection and long-term savings.
+Tax benefit is subject to changes in tax laws.
++All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
Kotak Life has covered over 27 million lives as of 30th June 2019.
Company Website | https://insurance.kotak.com/ |
Year of Establishment | 2001 |
Head Quartered | Mumbai |
Chairperson | Uday Kotak |
Parent Organization | Kotak Mahindra Bank |
Kotak Mahindra Group is a reputed banking and financial services organization in India. It offers an extensive range of financial products to meet both corporate and individual investment needs.
Kotak offers a wide range of life insurance products. Following is the product portfolio of Kotak Life Insurance:
These life insurance plans are pure risk cover plans, which provide high insurance coverage to the family of the insured at a nominal premium rate.
This is a pure risk cover plan, which provides insurance coverage to the family of the insured in case of any eventuality. Moreover, the Kotak term plan is a convertible plan which can be converted to a Kotak Mahindra Life insurance plan before the last 5 years of the policy. Let’s take a look at the features of the policy.
Criteria | Minimum | Maximum |
Entry Age | 18 years | 65 years |
Maturity Age | 70 years | |
Policy Term | 5 years | 30 years |
Sum Assured | Rs.3,00,000 | Rs. 24,99,999 |
Kotak e-Term plan is an online term plan, which is specifically designed to provide financial security to the family of the insured against any emergency. The plan offers financial protection in form of the death benefit to the beneficiary of the policy in the event of the unfortunate demise of the insured person. The following are some of the features of the policy.
Criteria | Minimum | Maximum |
Entry Age | 18 years | 65 years |
Maturity Age | 23 years | 75 years |
Policy Term | 5 years | 40 years or 75 years-Age at entry |
Sum Assured | Rs.25,00,000 | No upper limit |
Kotak Mahindra life insurance offers an extensive range of investment and savings plans that helps the customer to accumulate wealth in the long-term and also provides an opportunity to create a financial cushion for the family. Here are the savings and investment plans offered by Kotak Life Insurance.
This is an investment-oriented unit-linked life insurance policy that offers the combined benefit of insurance and investment returns. The plan comes with a lock-in period of 5 years and offers 5 different fund options to choose from. Along with the benefit of investment return and wealth creation in the long-term, the plan also provides financial security to the insured’s family in case of any eventuality. let’s take a look at some of the features of the policy.
Let’s take a look at the eligibility criteria of the policy.
Criteria | Minimum | Maximum |
Entry Age | 0 years | 65 years |
Maturity Age | 10 years | 75 years |
Policy Term | 10 years, 15 years, 20 years, 25 years, and 30 years | |
Premium Paying Term | Regular pay, Limited Pay |
This is a single premium payment unit-linked insurance plan wherein the policyholder needs to pay the premium as a lump-sum and can reap the benefits through the tenure of the policy. the plan comes with a joint-life protection cover and offers different fund options to choose from. Here are the features of the policy.
These are the eligibility criteria of the policy.
Criteria | Minimum | Maximum |
Entry Age | Primary Life- 18 years Secondary Life- 3 years |
55, 52 years
55, 52 years |
Maturity Age | Primary Life- 28 years
Secondary Life- 18 years |
65, 67 years
65, 67 years |
Policy Term | 10 years and 15 years | |
Premium Paying Term | Single Pay |
This is a unit-linked insurance plan that comes with three investment strategies and offers flexibility to the insurance holder. The policy offers an extensive option to diversify the wealth so that the policyholder does not have to look for any other investment options. The following are some of the features of the policy.
These are the eligibility criteria of the policy.
Criteria | Minimum | Maximum |
Entry Age | 0 years | 65 years |
Maturity Age | 18 years | 75 years |
Policy Term | 10 years | 30 years |
Premium Paying Term | Regular Pay, limited pay |
This is a unit-linked insurance plan, which is specifically designed to provide insurance coverage to the family of the insured along with the benefit of investment return. The plan offers the option to choose from different fund options to invest in so that you can accumulate wealth in the long term along with the benefit of insurance coverage. The following are some of the salient features of the policy
These are the eligibility criteria of the policy.
Criteria | Minimum | Maximum |
Entry Age | 0 years | 65 years |
Maturity Age | 18 years | 75 years |
Policy Term | 10, 15, 20, 25 and 30 years | |
Premium Paying Term | Regular Pay, limited pay |
This is a savings cum insurance plan, which offers guaranteed addition in the first 5 policy years. The plan helps the insured to create a financial cushion for the future and also provide insurance coverage to the family against any type of eventuality. The following are the features of the policy.
These are the eligibility criteria of the policy.
Criteria | Minimum | Maximum |
Entry Age | 18years | 60 years |
Maturity Age | 70 years | |
Policy Term | 10, 15, 20, and 30 years | |
Premium Paying Term | Regular Pay, limited pay |
This is a limited pay moneyback policy that provides a lump-sum payout to the insured at regular intervals so that he/she can meet the short-term financial requirements let’s take a look at the features of the policy.
These are the eligibility criteria of the policy.
Criteria | Minimum | Maximum |
Entry Age | 2 years | 57,55,51 (years) |
Maturity Age | 75 years | |
Policy Term | 16, 20, and 24 years | |
Premium Paying Term | limited pay |
This is a savings cum protection plan that offers a guaranteed annual income immediately after the premium payment tenure to provide additional annual income. The plan offers accrued bonuses in lump-sum at the end of the policy tenure. The following are the key features of the policy.
These are the eligibility criteria of the policy.
Criteria | Minimum | Maximum |
Entry Age | 3 years | 50, 55 (years) |
Maturity Age | 18 years | 78 years |
Policy Term | 15, 19, and 23 years | |
Premium Paying Term | limited pay |
This is a non-linked participating whole life plan, which provides coverage for the whole life of the insured i.e up to 100 years. Moreover, under this plan, the insured can choose to receive the bonus payouts even after the expiry of the premium payment tenure of the policy. let’s take a look at the features of the policy.
The following are the eligibility criteria of the policy.
Criteria | Minimum | Maximum |
Entry Age | 3 years | 55, 53, 50, 45 (years) |
Maturity Age | 99 years | |
Policy Term | 99 years minus age at entry of the policy | |
Premium Paying Term | 8,12,15 and 20 years |
This is a non-participating, non-linked endowment plan that offers the combined benefit of savings and protection. The plan helps to create a financial cushion in the long-term and also provides life coverage to the family of the insured against any type of eventuality. Here are the features of the policy.
The following are the eligibility criteria of the policy.
Criteria | Minimum | Maximum |
Entry Age | 18 years | 55 years |
Maturity Age | 60 years | |
Policy Term | 5 years | |
Premium Paying Term | Single |
This is a single premium payment unit-linked insurance plan, which offers the dual benefit of investment and insurance to the policyholder. Under this plan, the policyholder can gain the advantage of wealth creation with the long-term investment returns along with the benefit of insurance coverage to the family of the insured. The following are the features of the policy.
These are the eligibility criteria of the policy.
Criteria | Minimum | Maximum |
Entry Age | 10 years PT- 8 years
15 years PT- 3 years |
45 years
43 years |
Maturity Age | 10 years PT- 18 years
15 years PT- 18 years |
55 years
58 years |
Policy Term | 10 years and 15 years | |
Premium Paying Term | single pay |
This is a savings cum protection oriented plan offered by Kotak Mahindra life insurance. The plan provides guaranteed benefits and also secures the financial future of the family in case of any eventuality. Kotak Life Insurance POS Bachat Bima Plan provides different life cover options to choose from. Let’s take a look at the features of the policy.
These are the eligibility criteria of the policy.
Criteria | Minimum | Maximum |
Entry Age | 12 years | 45 years |
Maturity Age | 28 years | 65 years |
Policy Term | 16 years/20 years | |
Premium Paying Term | limited pay |
This is a non-participating guaranteed income endowment plan. This plan offered by Kotak life insurance ensures that you have a regular flow of income along with the benefit of savings in the long-term. Let’s take a look at the features of the policy.
These are the eligibility criteria of the policy.
Criteria | Minimum | Maximum |
Entry Age | 0 years | 60, 55 (years) |
Maturity Age | 18 years | 85 years |
Policy Term | 15 years, 20 years, and 30 years | |
Premium Paying Term | limited pay |
This plan offered by Kotak Mahindra life insurance is a savings cum protection plan, which provides an opportunity to the policyholder to create wealth in the long-term by savings and also provides insurance coverage for their family against any type of eventualities. The following are the features of the policy.
These are the eligibility criteria of the policy.
Criteria | Minimum | Maximum |
Entry Age | 3 years | 60 years |
Maturity Age | 18 years | 75 years |
Policy Term | 10, 12, 14,15, 18 years & 20 (years) | |
Premium Paying Term | limited pay |
This plan offers by Kotak Mahindra life insurance is a savings cum protection plan, which provides an opportunity to the policyholder to create wealth in the long-term by savings and also provides insurance coverage for their family against any type of eventualities. The following are the features of the policy.
These are the eligibility criteria of the policy.
Criteria | Minimum | Maximum |
Entry Age | 0 years | 70,60 58 (years) |
Maturity Age | 18 years | 70, 75, 73 (years) |
Policy Term | 15years-30 years | |
Premium Paying Term | limited pay, regular pay |
This is a participating, non-linked life insurance plan offered by Kotak life insurance. This is an endowment policy, which helps the policyholder to fulfill their financial objectives of life and also take care of the family even in your absence. The following are the features of the policy.
These are the eligibility criteria of the policy.
Criteria | Minimum | Maximum |
Entry Age | 3 years | 50,55,54 (years) |
Maturity Age | 75 years | |
Policy Term | 75 years minus the age at entry | |
Premium Paying Term | 6. 8, 10, 12, and 15 years |
This plan offered by Kotak Mahindra life insurance is a savings cum protection plan, which provides an opportunity to the policyholder to create wealth in the long-term by savings and also provides insurance coverage for their family against any type of eventualities. The following are the features of the policy.
These are the eligibility criteria of the policy.
Criteria | Minimum | Maximum |
Entry Age | 3 years | 60 years |
Maturity Age | 18 years | 75 years |
Policy Term | 14, 15, 16, and 20 years | |
Premium Paying Term | 7 years, 8 years, and 10 years |
Kotak Life Insurance Retirement Plan is specifically designed to secure the financial future of the individual after retirement. The retirement plans offered by Kotak Mahindra Life Insurance helps to accumulate funds in the long-term so that one can enjoy the golden days of retirement and can have a regular flow of income after retirement. The retirement plans offered by Kotak Mahindra Life Insurance are:
This is a non-participating, non-linked immediate annuity plan, which provides a guaranteed income to the policyholder in form of an annuity right after the payment of premium as lump-sum. The plan provides an assured income continuously throughout the life of the insured and in the absence of the insured throughout the lifetime of the spouse. The following are the features of the policy.
These are the eligibility criteria of the policy.
Criteria | Minimum | Maximum |
Entry Age | 45,55 years | 99 years |
Minimum Annuity | Monthly- Rs.1,000 Quarterly-Rs.3,000 Half-Yearly- Rs.6,000 Yearly- Rs.12,000 |
|
Annuity Modes | Yearly, half-yearly, quarterly, monthly |
This is a traditional participating pension plan that helps the insured to accumulate a retirement fund for the future so that they can live a hassle-free and stress-free retirement life. The plan provides guaranteed benefits on death and vesting. The following are the features of the policy.
These are the eligibility criteria of the policy.
Criteria | Minimum | Maximum |
Entry Age | 30years | 55,60 (years) |
Vesting Age | 45years | 70 years |
Policy Term | Regular Pay- 10years-30 years Limited Pay- 15, 17 (years)-30 years Single Pay- 10 years-15 years |
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Premium Paying Term | Regular pay, limited pay & single pay |
The process to file a claim for Kotak life insurance policies is very simple and hassle-free. The individual can opt for either an online process or offline process to file the claim for Kotak life insurance policies. Let’s take a look at the online and offline process of claim settlement for Kotak life insurance policies.
The distribution network of Kotak Mahindra Life Insurance Company includes retail distribution through the branch offices, insurance agencies, individual agent networks, and insurance brokers for claim settlements. It has offices across over 400 cities and towns in India. Kotak Life products are also available online through their website and insurance aggregators.
Step 1: Logging into the e-Portal with your policy details to check the policy status.
Step 2: Select the policy and payment option- Net Banking. Debit/Credit Card
Step 3: Pay via the secured gateway and print/save the recipt of payment.
In the offline mode, you deposit /cheque at the nearest branch.